This retail property, located at 40-02 Queens Boulevard & 40-18 Queens Boulevard in Sunnyside, has a sale price of $16,250,000. The total square footage of the asset is 19,200, with a price per square foot of $846. Additionally, the building has a basement area of 80,000 square feet, resulting in a price per basement square foot of $203.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $16,250,000
• Buyer: Koptiev Family
• Seller: Kenneth Schoellnast
• Broker Representatives: Ben Khakshoor, Aaron Jungreis & Joseph Khalili - Rosewood Realty Group
• Transaction Date: 5/28/2026

The property has been under the ownership of the Schoellnast family since 1929, marking nearly a century of their ownership. The deal saw the Koptiev family coming in with the highest offer and strongest terms, culminating in an all-cash closing in under 90 days. The transaction was handled through a completely off-market process, with the brokers highlighting the rarity of such properties trading in Queens.